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Debt Management Plan (DMP)

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Home > Debt Solutions > DMP FAQs

DMP FAQs

All the answers you may need about DMPs can be found here. Although this may help you understand more about a DMP we strongly advise that you seek financial advice before entering in to any agreement – even if it isn’t from us. But we’re always happy to help.

DMP Faqs

What if my personal circumstances change during a DMP?

If your circumstances change, either positively or adversely, you must inform us as soon as possible. This is because it could have an effect on the advice and solution we may have recommended. Any change of circumstances may have consequences but we can only advise once we have the relevant information.

How much does a DMP cost?

There are two main costs. There is a setup fee and a monthly fee. The set up fee is 50% of your first six monthly payments from a minimum of £240 up to a maximum of £1400. The monthly fee you’ll pay, once the setup fee is paid, is £38.

How does a DMP affect my credit rating?

As a DMP could result in your existing commitments not being maintained, your credit rating can be adversely affected. A credit report might show debts which are being managed through a DMP.

How long does a DMP last?

This will vary on the level of debt and how much you pay to your creditors on the plan each month.

What debts are excluded from a DMP?

Debts excluded from a DMP include:

  • Child Support Agency arrears
  • Current year council tax arrears
  • Secured loans
  • Mortgage and mortgage arrears
  • Car finance when you still own the vehicle
  • Court or parking fines
  • Rent arrears
  • Gas and electric bills with a current provider
  • Student loans
  • Income tax bills.

What happens to my creditors through a DMP?

The process for managing a DMP requires us to inform your creditors what you can afford to pay them via a DMP. If the proposal is accepted then any contact with them is dealt with through us.

Can I make additional payments into my plan?

Yes. If at any point you are able to make an additional payment into your plan please contact us.  If you are in a position to increase your payments on a regular basis we can conduct a review to ensure this is affordable.

You can also make extra payments via the online portal. This would however need to be more than, or equal to, your current payment amount.

Getting free impartial advice

The Money Advice Service is an impartial service set up by the Government.
They provide free debt counselling, debt adjustment and credit information services. Visit Money Advice Service

Compare Packages

Not sure which solution is best for you? No problem – we’ll help you to compare the different options available so you can get the help you need, even if this isn’t through us.

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Additional Customer Benefits

Our customers get access to additional services to help improve their financial circumstances. These include:

TV, broadband and landline comparison

Available to everyone – even if you’re not a Harrington Brooks customer

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Utility switching service

Available to everyone – even if you’re not a Harrington Brooks customer

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Legal advice on associated debt issues

Only available to current active Harrington Brooks customers

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Benefit and entitlement checks

Only available to current active Harrington Brooks customers

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Looking for friendly help and advice?

Check out our easy-to-read articles and helpful guides if you have any questions about managing your money or if there’s something you just don’t understand about your debts.

If you’d prefer to talk to someone about your debt worries, you can give a member of our team a call on 0161 413 9530 for some impartial advice.

Free Debt Guides

Our handy guides will help you with the most common issues when you’re on a debt solution.

Money Saving Tips

If you’re on a tight budget, check out our tips to make your money work for you.

Money Management Guides

Struggling with your finances? Find out what creditors can ask for – and what they can’t.

Credit Report Advice

Find out what your credit report means for you and how to improve it.

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Signposting to services

If you're struggling with debt, you might also benefit from access to additional support services. Our signposting to services page provides details of relevant charities and other organisations that could help you.

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HB Financial Solutions Ltd, trading as Harrington Brooks is now Gregory Pennington Limited.

Your payments into a Debt Management Plan are protected and compensation could be available from the FSCS if there are any shortfalls in funds held on a customer’s behalf.

Gregory Pennington Limited (c) 2018. Registered office: Think Park, Mosley Road, Trafford Park, Manchester M17 1FQ. Registered in England and Wales. Co Reg No. 2855061 Authorised and regulated by the Financial Conduct Authority for its consumer credit and insurance and mortgage mediation activities. Regulated by the Claims Management Regulator in respect of regulated claims management activities.

One Advice Ltd, trading as Harrington Brooks IVA is now Freeman Jones Ltd, trading as Harrington Brooks.

Freeman Jones Registered office: Think Park, Mosley Road, Trafford Park, Manchester M17 1FQ. Co Reg No 4348410. Registered in England and Wales. Regulated by the Claims Management Regulator in respect of regulated claims management activities. Freeman Jones Limited is an appointed representative of Gregory Pennington Limited for its credit broking and insurance and mortgage mediation activities, which is authorised and regulated by the Financial Conduct Authority.

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